The COVID-19 pandemic has had a significant impact on contract management, as organizations have had to adapt to rapidly changing circumstances and unexpected disruptions. Some ways that COVID-19 has impacted contract management include:
- Increased focus on force majeure clauses and other contractual provisions that address unexpected events and disruptions.
- Greater emphasis on contract negotiation and renegotiation to address changes in business needs and priorities.
- Increased use of digital and remote contract management technologies to facilitate collaboration and communication between parties.
- Greater emphasis on risk management and contingency planning to address uncertainty and volatility in the business environment.
As the pandemic continues to evolve, organizations will need to continue to adapt their contract management processes to address new challenges and opportunities.